Durable Power of Attorney

"Always plan ahead. It wasn't raining when Noah built the ark." - Richard C. Cushing.

Effective January, 2012, the State of Alabama adopted a nationwide form for Durable Powers of Attorney. A very important element of estate planning, the Durable Power of Attorney is intended to authorize a trusted individual to handle a broad range of financial matters in the event a person becomes either mentally or physically disabled from performing such functions. The person receiving such powers remains under a strict duty of trust to act only in the best interests of the grantor.

For instance, a person may give to their spouse or a trusted adult child or friend a Durable Power of Attorney to manage financial affairs and thereby save the family from the expensive and time consuming process of opening a conservatorship to handle such matters. The Alabama Durable Power of Attorney form provides options for an extremely broad range of powers and makes specific provisions to make sure that financial institutions, brokerage firms and others will comply with the powers and instructions conveyed. The term "durable" means that the Power of Attorney will remain effective even though the grantor has lost mental or physical capacity to conduct their own affairs.